Malaysia destroys over 1000 Bitcoin miners worth over $ 1.2 million

Authorities in Malaysia destroyed a number of more than $ 1.2 million worth of Bitcoin miners after they were seized for illegal activity.

In a video released today by local news site DayakDaily, police in the town of Miri, Borneo Island and Sarawak Energy set up a roller to crush more than 1,069 Bitcoin miners. The rigs were reportedly seized by Malaysian residents who attempted to illegally mine cryptocurrencies using stolen electricity between February and April.

According to a Friday report by The Star in Malaysia, the miners worth around $ 1.26 million were disposed of at Miri District Police Headquarters. Authorities say three homes in the area were destroyed this year for illegal bitcoin mining, while Sarawak Energy lost about $ 2 million to those operations.

It is not clear why the Malaysian authorities would completely destroy the mining equipment instead of trying to deprive the parts of some value. Officials in Iran, Turkey and other countries where mining is banned or restricted have been conducting raids on illegal cryptocurrency mining activities for some time, resulting in arrests, fines and oil rig seizures.

However, there are very few reports that the excavator has been crushed or completely destroyed. Chinese authorities said they auctioned more than 2,000 oil rigs in February, which were seized for similar reasons.

The Cambridge Center for Alternative Finance estimates that Malaysia contributed 3.44% to the total monthly bitcoin hashrate in April, with the country consuming more than 147 terawatt hours of annual energy.

Annie

According to Cointelegraph

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